View of Iran's oil industry installations in Mahshahr, Khuzestan province, southern Iran.
Kaveh Kazemi | Getty ImagesOil prices will remain under pressure for the rest of this year, it may be difficult to see Brent crude oil prices reaching $80 in the foreseeable future.
"With Israel deliberately, and perhaps with some American encouragement, avoiding the targeting of crude oil facilities, the oil market is back to looking at an oversupplied market," said Andy Lipow, president at Lipow Oil Associates.
"Oil prices will remain under pressure for the rest of this year, it may be difficult to see Brent crude oil prices reaching $80 in the foreseeable future," Lipow told CNBC via email.
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Persons:
Kaveh Kazemi, Brent, Andy Lipow, Israel, Lipow, Saul Kavonic
Organizations:
Getty, Lipow, Citi, Lipow Oil Associates, CNBC
Locations:
Mahshahr, Khuzestan, Iran, Israel, Canada, Brazil, Argentina, Senegal